ETH/USD Establishes Multi-Year High Around 745: Sally Ho's Technical Analysis 28 December 2020 ETH

Ethereum (ETH/USD) extended its recent upside surge early in today’s North American session as the pair escalated higher to the 745.00 area after trading as low as the 659.67 area during the Asian session.  Notably, today’s intraday high represents a fresh multi-year high for ETH/USD.  Significant Stops were recently elected above the 615.19, 637.79, 668.87, 679.78, and 698.88 area during the march to successive multi-year highs. Additional upside price objectives include the 819.23, 879.23, 910.42, 939.22, and 985.15 areas. 

Following the pair’s recent moves to successive all-time highs, downside retracement levels and areas of potential technical support include the 710.09, 694.34, 672.97, 656.62, 628.40, and 601.94 levels.  ETH/USD has recently traded up more than 5% month-to-date, and traded up more than 450% year-to-date.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 632.68 and the 50-bar MA (Hourly) at 678.84.

Technical Support is expected around 699.32/ 612.33/ 530.32 with Stops expected below.

Technical Resistance is expected around 745.94/ 819.23/ 877.71 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.